MedQuist resolves SEC investigation

Speech recognition and transcription technology provider MedQuist of Mount Laurel, NJ, last week announced the resolution of an investigation by the U.S. Securities and Exchange Commission (SEC) regarding past billing practices.

As part of the settlement, MedQuist agreed to an entry of final judgment in prospective litigation by the SEC, including an injunction against the company from violating federal securities laws. Under the terms of the settlement, MedQuist will not pay any fines or penalties to the SEC, and the company did not admit to or deny any liability or wrongdoing.

MedQuist late last year settled with the U.S. Department of Justice, paying $6.6 million to resolve allegations under the False Claims Act that it overbilled U.S. government clients. The company also was hit with class action lawsuits from customers and medical transcriptionists.

The company said that when the court overseeing the case approves the SEC and medical transcriptionist settlements, MedQuist will have resolved all class action litigation and government investigations into the billing matters.

Related Reading

MedQuist pays $6.6 million to resolve false claims allegations, December 3, 2008

MedQuist to collaborate with Primordial, November 20, 2008

MedQuist inks partnership with Clario, November 13, 2008

Road to RSNA, Healthcare Informatics, MedQuist, November 10, 2008

MedQuist teams with Inland Imaging, November 6, 2008

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